Beyond the Footsie: Tuesday close

SHARES in UK smaller companies shares ended the day outperforming their large cap peers. The FTSE SmallCap index closed up 10.4 points to 2,505.6. It was the index's ninth consecutive gain.

CA Coutts was among the market's strongest features after it said profits for 2003 will come in materially above market expectations. The company, which creates in-store advertising displays for retailers, said it achieved strong trading throughout the second half and in particular in the pre-Christmas period. Shares firmed 16 1/2p to 125p in reaction - their best level since Feb 2000.

Document management software provider INVU made a solid debut on the Alternative Investment Market as London's first flotation of 2004. The main listing was quoted at 10 1/2p against a placing price of 8 1/2p - although no trades were booked, and only one marketmaker was offering a price. Its No-Par-Value-denominated stock was slightly more lively, ending at 9 3/4p with 360,000 units changing hands.

The group, counts Universal Music and the fund manager Man among its customers.

Womenswear retailer Alexon was off by 7 1/2p to 285p after a trading update revealed weaker-than-expected like-for-like sales over the peak Christmas trading period. However, broker DKW repeated its 'buy' advice.

Others in the clothes retailing sector were bolstered by an upbeat trading statement from Next Group. Jacques Vert rose 1p to 20 3/4p. Its interim results are due on January 13.

Xenova Group crept higher by 1/4p to 10 1/4p after announcing the sale of its Franham sheep antibody production operations to a newly formed company, Bioventix, for a £800,000.

An upbeat trading statement boosted Ultimate Leisure Group 14p to 312 1/2p. The hotel and theme bar operator said Christmas trading was particularly buoyant, and its half-year results to December 2003 will be ahead of expectations, with profit before tax being not less than £4.2m - up at least 28%.

Seymour Pierce repeated its 'buy' advice.

Profit taking saw Topps Tiles slip 1/2p to 599 1/2p after a bright trading statement showing like-for-like sales up more than 16%. Panmure kept 'buy' advice on Topps, and Seymour Pierce repeated a 'strong buy' but cautioned that timing may be an issue after the stock's recent strong run.